VN-Index on July 19 decreased slightly by 1.1 points to 1,172 points.
The stock market had its first slight decline after eight consecutive increases. Liquidity on the HoSE reached a high of over VND17,000 billion. However, cash flow was strongly differentiated as buying power focused on a few stocks of banking groups and enterprises with positive business results in the second quarter of 2023.
At the end of the session on July 19, the VN-Index decreased by 1.1 points (equivalent to 0.09%), down to 1,172 points.
Regarding market trends, BSC Securities Company predicts that investors may trade sideways at high prices in the next session. The VN-Index will accumulate more points to bounce back to the next resistance level.
However, Mr. Tran Minh Hoang, Director of Research and Analysis at VCBS Securities Company, commented that the VN-Index continued to fluctuate, accumulating points within a narrow range.
According to Mr. Hoang, investors need to take advantage of the volatile sessions to disburse funds for stocks that have increased in price, then the price goes sideways and if there is buying power, the price of that stock will continue to increase.
However, Mr. Nguyen Huy Phuong, Deputy Head of Investment Consulting Department for Individual Clients - Rong Viet Securities Company (VDSC), said that profit-taking is gradually increasing. Therefore, it is possible that the market will temporarily step back to re-examine the support cash flow around the 1,165-point area of the VN-Index.
Mr. Nguyen Huy Thoai, analyst at Thanh Cong Securities Company (TCSC), said that when businesses announce their financial reports for the second quarter of 2023, the market often fluctuates unpredictably. Businesses with unattractive business results such as banks with an estimated industry-wide profit decrease of about 18% are a sign to pay attention to, because this industry accounts for about 40% of the total market capitalization. The decline in banking stocks often leads to a decline in the prices of many other groups of stocks.
"Investors should pay attention to information about profits of some key industries to convert stocks that have increased rapidly with cash flow in recent times to stocks of businesses that can maintain growth momentum," Mr. Thoai recommended.
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